First Time Buyer First steps:
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
In regards to funding the property, it is best to start off by contacting a mortgage specialist that can help you determine what you can afford. I suggest one of the following.
FOR YOUR FREE HOME BUYERS GUIDE SEND ME AN EMAIL AND ITS YOURS!
In the mean time if you would like to get started finding homes in the area(s) your looking in contact me and I will be happy to help. I can email a list of homes that suit your needs which will update daily keeping you ahead of other buyers looking for the same thing.
Joe Stafford, PA
Keller Williams Realty
You can search on my website http://www.FortLauderdale-Homesforsale.com
Congrats on choosing to buy at this time. In a few short years you will see how your timing was PERFECT.
As real estate professional, many of us on this forum are engaged in various levels of transacting a real estate pruchase or sale on a daily basis. Sometimes, due to our emmersion, we forget the situation a first time home buyer finds themselves. It is unnerving to realize there is so very, very much you do not know.
I've just finished my nearly 30 page Florida Home Buyers Guide. Starting at financing (including some 'rule of thumb' how much can I buy guidelines) and ending at the closing table, this guide gives insight regarding the process and identifies those issues most likely to create havoc in the process. Request your digital copy.
You won't find any references to basements or ice damning, because it is all about FLORIDA!
Best of success in find you Fun N Sun home.
Annette Lawrence, Broker/Assoicate
Remax Realtec Group, Palm Harbor, FL
727.420.4041 - http://www.FloridaRealEstateMadeEASY.com
Its important to select a reputable lender that can actually close on your mortgage and there are many incentives being offered right now.
We are Cooper City agents and know the neighborhoods. Call us to find a home for you.
Fulcrum Realty LLC
I work with a lot of first time home buyers. You should work with a Realtor who can explain everything to you as you go along, and walk you through the entire process.
Certainly, one of the first things you need to do, is speak with a mortgage consultant who will be able to give you a price range that you should be looking in. If you don't have someone you feel comfortable with, your Realtor will be able to give you references.
With a knowledgeable Realtor and mortgage consultant to work with, you should be able to begin the process of making your dream a reality.
Best of luck to you!
Stefanie Cohen, PA, ABR, SFR
Prudential Florida Realty
As a first time buyer in New York for example there are several programs a first time buyer could benefit from.
your first step should be contacting a lender to determine your ability to qualify for a mortgage loan.
Please feel free to contact me at your earliest convenience regarding a pre-approval, if I may be of any service to you.
Lic. Loan Originator
Hi! Let's have your dreams become realtiy! Welcome to working toward home ownership. There are different ways to finance a property. FHA financing is usually 3.5% for your down payment and 5 to 6% for closing costs. By rounding out these figures, you need about 10% of your purchase price saved up.
Your best steps are to work with a licensed knowlegable realtor and mortgage consultant. I can provide you with a mortgage consultant to let you know how much you are qualified to purchase.
Susan Penn, PA, SFR, CDPE http://www.susanpenn.com
EWM RealtorsÂ® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326
T: 954.306.7337 | C: 954.557.5993 | F: 954.515.0200 | email@example.com | http://www.ewm.com
As a first time home buyer you can take advantage of low down payment goverment programs as FHA an others.
Please give my a call to contact you with my mortgage broker to guide you.
NEW CASTLE REALTY WORLD
Maria Jessica DeLuna